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Air Cooled Synchronous Condenser Market Size - By Core (Closed, Shell, Berry), By Winding (Two Winding, Auto Transformer), By Cooling (Dry Type, Oil Immersed), By Insulation (Gas, Oil, Solid, Air), Installation, Phase, Rating, Mounting, Application & Forecast, 2024 – 2032

  • Report ID: GMI10160
  • Published Date: Jul 2024
  • Report Format: PDF

Air Cooled Synchronous Condenser Market Size

Air Cooled Synchronous Condenser Market was valued at USD 746.4 million in 2023 and will grow at a CAGR of 4.2% from 2024 to 2032, due to the increasing demand for grid stability and power quality in renewable energy integration. As renewable energy sources like wind and solar are intermittent, synchronous condensers help stabilize the grid by providing reactive power support and voltage regulation. Technological advancements have improved the efficiency and reliability of air-cooled systems, making them more attractive.

Air Cooled Synchronous Condenser Market

Additionally, stringent regulations on carbon emissions and a shift towards greener technologies are promoting the adoption of air-cooled systems, which have lower environmental impacts compared to water-cooled alternatives. The rise in industrialization and urbanization, especially in developing regions, is also fuelling demand for reliable power infrastructure, further boosting the market. Investments in upgrading aging power infrastructure and expanding smart grid projects are expected to sustain market growth.

Air Cooled Synchronous Condenser Market Trends

The air-cooled synchronous condenser industry is evolving rapidly, driven by technological advancements, regulatory changes, and shifting energy landscapes. Technological innovations are enhancing the efficiency, reliability, and performance of air-cooled synchronous condensers. Advances in cooling technologies, materials, and design have led to more compact and efficient units. Improved control systems and digital monitoring solutions allow for better real-time performance management and predictive maintenance, reducing operational costs and enhancing system reliability.

Stringent environmental regulations and policies aimed at reducing greenhouse gas emissions are propelling the adoption of air-cooled systems. These condensers are seen as environmentally friendly alternatives to water-cooled systems, which often require significant water resources and can have higher environmental impacts. The focus on sustainable and eco-friendly solutions is driving market demand. In many regions, the existing power infrastructure is aging and in need of upgrades or replacement. Synchronous condensers are being deployed to modernize and stabilize these aging grids. They provide a cost-effective solution to enhance grid reliability and efficiency, making them a preferred choice for infrastructure refurbishment projects.

Air Cooled Synchronous Condenser Market Analysis


Based on starting method, the static drive segment is expected to cross USD 700 million by 2032, owing to their increasingly sophisticated, offering better performance and efficiency compared to traditional starting methods. Advances in power electronics and control systems have enhanced the reliability and functionality of static drives, making them a preferred choice in various applications. Static drives provide smooth and precise control of the synchronous condenser during startup, reducing mechanical stress and electrical disturbances. This contributes to enhanced grid stability, which is crucial in modern power systems that integrate a significant amount of renewable energy sources.

 Air Cooled Synchronous Condenser Market Revenue Share, By End User, 2023

Based on end user, the utility segment is anticipated to register about 3.5% CAGR through 2032 since The increasing integration of renewable energy sources like wind and solar into the grid creates significant challenges in maintaining grid stability and reliability. Utilities are investing in synchronous condensers to provide the necessary reactive power support and voltage regulation, ensuring a stable and resilient grid. Many utilities are facing the challenge of aging power infrastructure that requires modernization to meet current performance and reliability standards. Synchronous condensers, particularly air-cooled variants, are being deployed to upgrade these systems, enhancing grid performance and reducing the risk of outages.

Europe Air Cooled Synchronous Condenser Market Revenue Size, 2022 - 2032, (USD Million)

Europe air cooled synchronous condenser market is likely to surpass USD 400 million by 2032 on account of ongoing technological advancements and a growing focus on energy efficiency. The ongoing integration of renewable energy sources and the phasing out of conventional power plants require alternative solutions to maintain grid stability, which reinforces the demand for synchronous condensers.

The U.S. is actively transitioning towards a cleaner energy mix, significantly increasing its investment in renewable energy projects such as wind and solar power. This shift necessitates technologies that can provide grid stability, as renewable energy sources often cause frequency fluctuations. Synchronous condensers are essential in providing the necessary inertia and stabilizing the grid.

Air Cooled Synchronous Condenser Market Share

Air Cooled Synchronous Condenser Company Market Share Analysis, 2023

Companies like General Electric, Siemens, and Eaton hold significant market share in the electrical equipment and solutions industry since These companies invest heavily in research and development, enabling them to innovate and introduce advanced technologies in their products. This gives them a competitive edge in terms of product performance, efficiency, and reliability. GE, Siemens, and Eaton have extensive global networks with established sales channels and distribution networks. This allows them to reach a wide range of markets and customers worldwide, thereby expanding their market share.

Air Cooled Synchronous Condenser Market Companies

  • ABB
  • Ansaldo Energia
  • Doosan
  • Eaton
  • General Electric
  • Hitachi Energy Ltd.
  • Mitsubishi Electric Power Products, Inc.
  • Nidec Corporation
  • Power Systems & Controls, Inc.
  • Shanghai Electric
  • Siemens Energy
  • Toshiba Energy Systems & Solutions Corporation
  • WEG

Air Cooled Synchronous Condenser Industry News

  • In March 2023, Toshiba Energy Systems has been awarded a contract by Tohoku Electric Power to install a STATCOM. This equipment will significantly bolster grid stability during the transmission of high-capacity power and ensure a dependable power supply during transmission system faults.
  • In January 2023, Ansaldo Energia, with Terna, successfully delivered a transformer and synchronous condenser to the Codrongianos electrical station in Sassari province. This specialized equipment will be tied to Terna's transmission grid of grid to support energy exchange of reactive energy and improve short-circuit power capability.

This air cooled synchronous condenser market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2032, for the following segments:

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Market, By Starting Method

  • Static Drive
  • Pony motors
  • Others

Market, By End User

  • Utility
  • Industrial

Market, By Reactive Power Rating

  • ≤ 100 MVAr
  • > 100 MVAr to ≤ 200 MVAr
  • > 200 MVAr

The above information has been provided for the following countries across the regions:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • France
    • Russia
  • Aisa Pacific
    • China
    • India
    • Australia
    • South Korea
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
  • Latin America
    • Brazil
    • Argentina


Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of air cooled synchronous condenser was reached USD 746.4 million in 2023 and is set to grow at 4.2% CAGR between 2024 and 2032, fueled by their cost-effectiveness and reduced water usage along with increasing demand for stable and reliable power grids.

The utility application segment in the air cooled synchronous condenser market will showcase 3.5% CAGR through 2032, attributed to its critical role in maintaining grid stability and reliability coupled with rising demand for energy and the need to upgrade aging power infrastructure.

Europe air cooled synchronous condenser industry size will record USD 400 million by 2032, driven by the stringent environmental regulations and emphasis on reducing greenhouse gas emissions, significant investments in renewable energy integration and grid modernization.

ABB, Doosan, Eaton, General Electric, Hitachi Energy Ltd., Mitsubishi Electric Power Products, Inc., Nidec Corporation, Power Systems & Controls, Inc., Shanghai Electric, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, and WEG

Air Cooled Synchronous Condenser Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 15
  • Countries covered: 16
  • Pages: 110
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